CLOC Ask The Experts: The Right Price for the Right Work

Ask The Experts: The Right Price for the Right Work: How to Become Data-Driven through Automation, RFPs and Change Management presented by Thomson Reuters

Rates are still going up: the recent  State of the Legal Market report from the Thomson Reuters Institute shows that negotiated rates rose 6% in 2023, for the fifth straight year of major increases. In-house counsel are responding with better tools and more data to manage spending.  Beyond that, some are aggressively moving work to smaller or cheaper firms. 

But how do you ensure that you’re getting quality work and consistent outcomes when increasing efficiency? And how do you manage the relationship with those big firms that are now getting a smaller piece of the pie, but still handling your most important, bet-the-business work? 

Join us for a webinar with Thomson Reuters that will discuss both what data-driven matter pricing looks like, and how to get there. An expert panel will cover: 

• Why RFPs are vital, and how to use them well. 
• How automation can help price individual matters consistently. 
• Introducing competition to drive cost and performance benefits. 
• Using spend and outcome data effectively. 
• Managing change within your department and with outside counsel. 
• Making clear comparisons among hourly rates, AFAs and other options.